Federal Reserve to host 'fintech innovation office hours'

Federal Reserve to host 'fintech innovation office hours'

The Federal Reserve Board is to open its doors to banks and startups in a series of 'fintech innovation office hours' throughout 2020.

The central bank says the drop-in sessions will serve as a resource for banks and startups to meet one-on-one with Federal Reserve staff members to discuss fintech developments and ask questions.

The Fed believes the open doors policy will be particularly helpful to community banks and their potential fintech partners.

Sessions will be co-hosted with local Reserve Banks, with the first session at the Federal Reserve Bank of Atlanta on February 26.

In a related development, the Board has also launched a new section of its website specifically focused on fintech innovation, serving as a central hub of information for stakeholders interested in engaging with the Board on innovation-related matters.

The section features the latest Federal Reserve Consumer Compliance Supervision Bulletin, which summarises supervisory observations regarding fintech and practical steps institutions can consider when engaging in fintech activity.

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